For A Third Time, European Commission Blocks Ryanair’s Attempt To Acquire Aer Lingus

Ryanair Holdings PLC (Nasdaq:RYAAY) on Wednesday vowed to appeal the European Commission's decision to block Ryanair's third attempt to become the sole owner of Aer Lingus Group PLC (LON:AERA).

The European Commission on Wednesday said Ryanair's third takeover attempt of Aer Lingus, worth $904 million, would be blocked because consolidation would harm air travelers by creating a monopoly of 46 regional routes. Ryanair currently holds almost 30 percent of Aer Lingus; the Irish government holds a 25 percent stake.

Ryanair responded immediately, saying it would appeal and denied the European Commission’s claim it would control all of Ireland's main commercial passenger routes. The company said under the proposed deal Britain's Flybe Group PLC (LON:FLYB) would have taken over 43 Aer Lingus routes.